Despite economic uncertainties and high credit-financing costs, Boeing officials say carriers will see enough liquid financing next year to sustain projected aircraft deliveries of $104 billion.
According to the company’s Current Aircraft Finance Market Outlook, 2013-2017
, the carriers themselves will fund only about 5 percent of these deliveries.
The largest funding source will be commercial banks, which Boeing said will increase their investment, but the capital markets will also play a funding role, serving both U.S. and international airlines. European banks, which had been rumored to pull out of the aircraft-funding game altogether, will represent a significant source of capital.
Export credit support from governments will be on the decline due to higher fees and equity requirements, according to the report. These tightened requirements lead Boeing officials to believe more carriers that have to pursue this funding route will end up leasing planes. Currently, 40 percent of the world’s airline fleet is leased; in less than a decade, Boeing expects that number to rise to 50 percent.
Regional banks around the world entered the aircraft market this year and are expected to remain a source of financing in 2013. Chinese, Australian and Middle Eastern banks will focus on domestic and regional deliveries, while Japanese banks will be players on the global level, the report said.
"We expect that despite economic and political challenges, global air travel will again demonstrate its remarkable resilience in 2013,” Boeing Capital Corp.’s Kostya Zolotusky said in a statement. “The industry's global growth and airlines' fleet replacements, accelerated by higher fuel prices, should keep demand stable and attract sufficient financing.”
According to Boeing orders and deliveries information, airlines and leasing companies have 1,056 planes on order from the company. The most popular aircraft family is the 737, with Lion Air booked for 230 planes, and United and Norwegian down for more than 120 planes each. - Jon Ross